WVPA Sharing

West Virginia’s July revenues more than $92M above estimates

By Charles Young, WV News

CHARLESTON, W.Va. — West Virginia finished the first month of the new fiscal year in the black, according to the office of Gov. Jim Justice.

General revenue collections for July were $381.1 million — $92.4 million above estimates and 24.6 percent ahead of prior year receipts.

“I know it sounds like a broken record at this point, but now that we have this state’s economic engine going in the right direction, we have a lot of good news to report,” Justice said.

Total severance tax collections for all funds were $90.7 million in July, an increase of nearly 187% over last year, marking a state record.

Severance tax collections in July totaled $54.6 million versus $3.4 million in July 2021, a $51.2 million increase. Collections exceeded estimates by $51.6 million…

To read more: https://www.wvnews.com/news/wvnews/west-virginias-july-revenues-more-than-92m-above-estimates/article_9c67362e-127d-11ed-9659-1fca3d896b91.html

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